American Apparel is in the hot pants. The sexy blanks retailer has to raise $16 million in new financing by Friday to avoid “issuing warrants for two million shares to lender SOF Investments.” And, if AMAP can’t renegotiate the April 20 maturity date of the loan by March 21, it’s out $60.6 million, just like that. It will be mayhem! Stores will shut down, hipsters everywhere will lose their jobs and their sanity. I will have to go to Manhattan to buy leggings. {SCS}

UK’s YouTube might be losing it’s music video privileges due to a failed agreement between YT’s owner Google and the Performing Rights Society for Music (PRS) who proposed a new payment deal for royalties. Now videos from major labels like EMI and SonyBMG are disappearing on the UK’s YouTube site. {G}

In the West African nation of Guinea-Bissau, both the country’s President, Joao Bernardo Vieira and his nemesis chief of armed forces, Gen. Batista Tagme Na Waie, were brutally killed, and the people are happy to be rid of their tyrannous rule and ready for a new chance at stability. It’s a crazy story, read it. {NYT}

A suicide bombing in Abu Ghraib, Baghdad has killed at least 33 people, “including a local army chief” and injured 46, making this Iraq’s “third major attack in the last few days.” {BBC}

Debt, bad deals, bombings and slayings, and yet the sun is shining, birds are chirping and leaves are starting to appear on the branches of the tree outside my window. What a wonderful word?